The value of Bahrain’s imports increased 12%, reaching to BD561 million ($1.489 billion) during October 2023 in comparison with BD500 million for the same month in 2022.
The top 10 countries for imports accounted for 70% of the total value of imports, said the foreign trade report for October 2023, published by Information &eGovernment Authority (iGA).
The value of exports of national origin products reported a decrease of 13% with a value of BD349 million during October 2023, compared to BD400 million for the same month in 2022. The top 10 countries accounted for 70% of the total export value.
China tops for imports
According to the report, China ranked first for imports to Bahrain, with a total of BD76 million, followed by Brazil being the second with BD75 million, and the United Arab Emirate third with BD46 million.
Non-agglomerated iron ores and concentrates alloyed were the top products imported to Bahrain with a total value of BD89 million, while other aluminum oxide was second with BD41 million, followed by smartphones being the third with BD19 million.
KSA tops for exports
Saudi Arabia ranked first among countries receiving Bahraini exports of national origin products, accounting for BD86 million. The UAE was second with BD32 million and the US third with BD31 million.
Unwrought aluminum alloys was the top product exported during October 2023 with BD78 million, followed by agglomerated iron ores and concentrates alloyed being the second with a value of BD73 million and unwrought aluminum not alloyed third with BD21 million.
The total value of re-exports decreases by 17% to reach BD68 million during October 2023, compared to BD83 million for the same month in 2022. The top 10 countries in re-exports accounted for 87% of the re-exported value. The UAE ranked first with BD20 million, followed by Kingdom of Saudi Arabia second with BD15 million, and Singapore third with BD6 million.
As per the report, turbo-jets was the top product re-exported from Bahrain with a value of BD10 million, followed by four wheel drive vehicles with BD5 million, and other parts of airplanes, helicopters or unmanned aircraft came third with BD3 million.
As for the trade balance, which represents the difference between exports and imports, the deficit amounted to BD143 million in October 2023, compared to a surplus of BD17 million during the same period last year. – TradeArabia News Service